Prediction: 2 AI Stocks Will Be Worth More Than Palantir Technologies by Late 2028

AI Stocks Set to Surpass Palantir Technologies' Value by End of 2028

CoreWeave Soars Ahead in AI Cloud Market

In the dynamic world of cloud computing, one name stands out: CoreWeave. The AI-focused cloud infrastructure provider has been making waves, particularly in its partnership with tech giant Nvidia, often deploying new technologies before other cloud providers.

CoreWeave's meteoric rise is reflected in its financial performance. With a current trading price of 23 times sales, the company's revenue is forecast to grow at an astonishing 69% annually through 2028. This growth trajectory has caught the attention of analysts, who, in a hypothetical scenario, value CoreWeave at a staggering $340 billion at the end of 2028, assuming a more reasonable 20 times sales valuation.

The company's success is not just about numbers. CoreWeave has been consistently ranked as the leading AI cloud provider, according to research firm SemiAnalysis, outpacing tech heavyweights like AWS, Azure, and Google.

Recently, CoreWeave announced its plan to acquire data center infrastructure provider Core Scientific in an all-stock transaction. This move is expected to eliminate a substantial $10 billion in future lease overhead for CoreWeave, making the company more efficient through vertical integration.

At the helm of CoreWeave is founder and CEO Michael Intrator. Notably, Mike Novogratz, the founder and CEO of Galaxy, a company with a business relationship with CoreWeave, is not directly involved with CoreWeave itself.

CoreWeave's first-quarter financial results underscore its impressive growth. The company reported a 420% revenue surge to $981 million and a 550% increase in adjusted operating income to $162 million. These numbers are a testament to CoreWeave's performance and its dominance in the AI and HPC workloads market.

Moreover, CoreWeave frequently sets performance records at the MLPerf benchmarks, further solidifying its position as a leader in AI cloud services. As the race for AI dominance continues, CoreWeave is undeniably a frontrunner, setting the pace for others to follow.